The Public Accounts Committee (PAC) of Parliament has criticised the management of the Peki College of Education over the institution’s worsening financial performance, rejecting explanations that attributed the losses mainly to Ghana’s high inflation rate.
The concerns were raised on Tuesday, May 19, as members examined the financial records and audit findings relating to the college’s operations.
According to the committee, the institution’s losses increased significantly from GH¢916,000 in 2023 to more than GH¢1 million in 2024, raising questions about the school’s expenditure patterns and financial management decisions.
Chairperson of the Public Accounts Committee, Abena Osei-Asare, particularly challenged the justification provided by the college’s Director of Finance, Hornesmus Quarshie, who had linked the institution’s financial setbacks to inflationary pressures in the economy.
Addressing the finance officer during proceedings, the PAC Chair questioned how inflation alone could account for the sharp rise in losses despite what she described as questionable expenditure decisions by the college.
“Your loss of GH¢1 million from GH¢916,000 is purely due to inflation? You spent over GH¢800,000 on transportation costs alone. Looking at the strength of your income, you could have postponed some of these items to avoid incurring the losses.”
“You make a loss of GH¢916,000, and you come here and you think you can come and sit here and explain it away? You are not doing your school any good thing.”
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